Teaching Kids About Financial Literacy

Last month, we heard that CBSE was planning to introduce a project which would educate children on managing their finances independently and learning about the importance of investments and savings. Shivani Saxena shares more details about the ‘School Bank Champs Project’.

Via The Times of India

In the initial stage, all CBSE affiliated schools have been asked to choose a bank nearby so that students get in the habit of daily interaction with bank authorities and enhance their financial knowledge by learning about net-banking and other options. 

Speaking to TOI, vice principal of Doon International school, Dinesh Bartwal, said, “I think it is a great initiative by CBSE to ensure students have sound knowledge of financial topics right from the school level. We have many banks on our school’s panel and would be tying up soon with one bank to provide students the chance to learn more about finances.” 

The project also drew enthusiastic response from parents. Vidhushi Chandra, a parent, said, “The project is a great initiative by CBSE and will definitely give exposure to students in strengthening their finance related knowledge right from the school level. It must, however, be initiated for classes beyond IX and X as well.”

Read the entire article.

For those of you who want to introduce the world of finance and money to your kids, look no further!  The Rupaiya-Paisa series by Mala Kumar and Deepa Balsavar is what you are looking for. This series on financial literacy introduces children to the concept of money and its usage. Playful illustrations make it easy understand the concepts of saving, earning, budgeting, banks, self-help groups etc. We saw these books vanish from our shelves at the recent Bangalore Book Fair. You can order the series in English, Hindi, Kannada, Marathi, Telugu and Urdu.

The books are interestingly written, scattered with stories and real-life examples to help the reader understand complex ideas in the context of their immediate, everyday lives.

Since these books are also under Creative Commons licenses, Ashna Ruia and volunteers used details from the book to create a short series to help you understand useful facts about money. The first hour videos in the series are : What is Money, How to Save Money, How to Spend Money, How to be Prepared.